Schedule III to the Companies Act, 2013 deals with the form of Balance Sheet and Profit and Loss Account and classified disclosure to be made therein and it applies to all the companies registered under the Companies Act, 1956. The Ministry of Corporate Affairs, Government of India, has revised this schedule to keep pace with privatization and globalization and bring the disclosures in financial statements at par with the international corporate reporting practices.
Proforma of Balance Sheet
Name of the Company ……………………………………..
Balance Sheet as at……………………………………..
|Particulars||Note No.||Figures as at
the end of
|Figures as at
the end of
|I EQUITY AND LIABILITIES|
|(1) Shareholders’ Funds
(a) Share capital
(b) Reserves and surplus
(c) Money received against share warrants*
(2) Share application money pending
(3) Non – current liabilities
(a) Long term borrowings
(b) Deferred tax liabilities (net)*
(c) Other long term liabilities
(d) Long term provisions
(4) Current liabilities
(a) Short term borrowings
(b) Trade Payables
(c) Other current liabilities
(d) Short term provisions
|(1) Non-Current Assets
(a) Fixed assets
1. Tangible assets
2. Intangible assets
3. Capital work in progress
4. Intangible assets under development*
(b) Non-current investments
(c) Deferred tax assets* (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current Assets
(a) Current investments
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short term loans and advances.
(f) Other current assets.
Sub items included in various heads, if any:
1. Share capital:
1. Authorized capital.
2. Paid up Share Capital
3. Shares allotted or fully paid up for consideration other than cash.
4. Shares allotted as fully paid up by way of bonus shares.
5. Calls unpaid by directors and officers.
6. Share forfeited amount.
2. Reserves and Surplus:
1. Capital Reserve.
2. Securities Premium (Reserve).
3. Capital Redemption Reserve.
4. Debenture Redemption Reserve.
5. Revaluation Reserve*.
6. Share Options Outstanding Account*.
7. Other reserves (a) General Reserve (b) Tax Reserve* (c) Subsidy Reserve*
(d) Amalgamation Reserve*.
8. Surplus i.e., balance in Statement of Profit and Loss.
Note-The Debit balance of Statement of profit and loss should be shown as deduction from the totals of reserves.
3. Share application money pending allotment*: It will be shown as:
1. Share application money (not refundable).
2. Share application money (refundable).
4. Non-current liabilities:
(a) Long Terms borrowings: Debentures, Long Term Loans etc.
(b) Deferred Tax Liabilities* (Net).
(c) Other Long Term Liabilities*: Trade Payables on account of purchase of Fixed Assets and interest accrued there on, Provisional Fund contribution.
(d) Long Term provisions: Provision for employee benefits, Provision for Warranties.
5. Current Liabilities:
(a) Short term borrowings: Loans repayable on demand from banks and other parties, Deposits, Loans and advances from related parties.
(b) Trade Payables
(c) Other Current Liabilities: Unpaid dividends, Interest accrued and due/ not due on borrowings, income received in advance, Calls in advance and interest thereon.
(d) Short Term Provisions: Provision for doubtful debts, Provision for tax, proposed dividend.
6. Fixed Assets
(i) Tangible Assets: Land, Building, Plant and Equipment, Furniture & Fixture, Vehicles, Office Equipments, Others.
(ii) Intangible Assets: Goodwill, Brands/trademarks, Computer Software, Mastheads and Publishing Titles*, Mining Right, Copyrights and patents and other intellectual property rights, Recipes, formulae, models, designs, Licenses and franchise*, others.
(iii) Capital Work in Progress*.
(iv) Intangible Assets under Development*: patents, intellectual property rights, etc. which are being developed by the company
7. Non Current Investments: Investment property, Equity Instrument, Preference shares, Government Securities, Debentures, and Mutual Funds etc.
8. Long-term Loans and Advances: Capital Advances, Security Deposits, etc.
9. Current Investments – Investments in Equity Instrument, Preference shares, Government Securities, Debentures, Mutual Funds etc.
10. Inventories: (a) Raw material (b) Work-in-progress. (c) Finished goods. (d) Goods acquired for trading (e) Stores and spares (f) Loose tools.
11. Other Current Assets: Prepaid expenses, and advance taxes.
12. Contingent Liabilities– Claims against the company not acknowledged as debts, Guarantees, Other money for which the company is contingently liable.
13. Capital Commitments – Uncalled Liability.
NOTE:ACCOUNTING TREATMENT OF ITEMS MARKED WITH * IS NOT TO BE EVALUATED IN EXAMINATION, ONLY ENTRY IN THE ITEM LIST IS TO BE CHECKED.